U-M Health to acquire Lansing-based Sparrow Health System
University of Michigan Health is acquiring Lansing-based Sparrow Health System, the largest hospital system in mid-Michigan with six campuses in Charlotte, Ionia, St. Johns, Carson City and Lansing, along with 500 primary care providers and specialists.
The deal was approved Thursday by the University of Michigan Board of Regents. Sparrow Health System’s board of directors signed off on the agreement in late November.
Pending regulatory approvals, the acquisition is expected to be completed in the first half of 2023.
U-M Health spending $800 million
“This agreement strengthens U-M Health’s ability to provide quality health care in communities beyond southeast Michigan, expanding our mission as a statewide referral site for the most critically ill,” Paul Brown, chair of the Board of Regents, said in a statement.
As part of the arrangement, Ann Arbor-based U-M Health will spend $800 million over the next eight years in Sparrow’s hospital campuses, funding facility projects, operations, and other “strategic investments.”